BOC Life Achieved Record-Breaking Business Results for the First Three Quarters of 2025

BOC Group Life Assurance Company Limited (“BOC Life”) announced today its strong growth momentum with new heights achieved throughout the first three quarters of 2025. As at 30 September 2025, the standard new business premiums reached HK$21,430 million, surged by 48% year on year, setting another historical record high for the Company, maintaining its leadership position in Hong Kong’s life insurance market¹ :

• The Renminbi insurance business maintains the top market position for more than a decade, with market share consistently exceeding 50%² ;
• Digital channel business ranked first in the market, with the standard premiums of new policies transcended the full-year total of 2024³ ;
• Tied agents channel continues to lead the market in per-capita productivity⁴ , while the number of qualifiers meeting the annual Million Dollar Round Table (MDRT) membership requirements in 2025 raised by 60% year-on-year⁵;
• Brokers channel business doubled compared to the same period last year, reaching a new historical high for the channel⁶;
• Bancassurance channel maintains its leading position in the market⁷ .

Mr. Wilson Tang, Chief Executive of BOC Life, said: “As a pioneer in Hong Kong’s retirement financial services, BOC Life launched a number of initiatives in 2025 fostering a distinctive retirement ecosystem. By deepening the cross-boundary retirement model that integrates ‘Financial and Non-Financial’ services, we leverage our ‘Banking + Insurance’, ’Insurance +Healthcare’ and ’Insurance + Wellness’ strengths, providing diversified high-quality retirement solutions to meet cross-border customer needs, while further fostering collaboration and interoperability within the Greater Bay Area (GBA).”

In 2025, BOC Life established strategic partnerships with leading medical institutions, renowned elderly care operators and prominent healthcare service providers in GBA. By leveraging the combined strengths of “banking + insurance + wellness”, BOC Life has collaborated synergistically with Bank of China (Hong Kong), Bank of China Shenzhen Branch and Shenzhen Wellbeing and Wellness Group, optimising resources to enhance the three key retirement service pillars – retirecation, cross-border and home-based retirement choices. This comprehensive approach provides customers with holistic financial services and solutions, offering Hong Kong residents new cross-boundary retirement options and contributing to the integration and development of the GBA.

BOC Life also introduced a range of innovative, market-first retirement products and services in 2025 to meet diverse customer needs and transform retirement into an enjoyable phase of life: Pioneering “RetireCation Immersive Retirecation Experience”⁷ as a policy benefit under the “IncomeJoy Lifelong Insurance Plan”, offering customers steady retirement income while allowing them to experience retirecation lifestyle options at different curated locations.

Mr. Tang added: “With the growing demand for cross-border retirement and northbound retirement becoming a new trend, customers now seek diverse retirement lifestyle options beyond cash flow products. Led by the BOC’s ‘BOC Silver Age’ retirement finance brand, BOC Life will continue expanding collaborations with cross-industry partners to actively research and launch new high-quality and diversified products and services, addressing the needs across different customer segments while meeting the societal needs of the silver economy.”
 

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Note:

1. According to the “Quarterly Release of Provisional Statistics for Long Term Business” for January to September 2025 published by the Insurance Authority (Statistics for the Q3 2025 are referred to as the “IA’s Q3 2025 Provisional Statistics”) https://www.ia.org.hk/en/infocenter/statistics/market_7_2025.html), the standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.
2. Based on the IA’s Q3 2025 Provisional Statistics, the market rankings are calculated using standard new business premiums for RMB insurance business. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.
3. As stated in IA’s Q3 2025 Provisional Statistics, the standard new business premiums for direct individual new business sold through the “Direct Sales” Channel are calculated. The standard new business premiums are defined as the sum of the annualised premiums and 10 % of single premiums of new business.
4. Based on (i) the number of tied agents recorded in the “HK Life Insurance Intermediary Monitor” published by the market research company “Pi Financial Services Intelligence”(as of 30 Sep 2025), and (ii) the standard new business premiums for direct individual new business (single premiums and annualised premiums) sold though the “Agents” Channel from the IA’s Q3 2025 Provisional Statistics, these figures are compared against BOC Life’s relevant internal data for the same period to derive a general statistical estimation. Per capita productivity is defined as the per capita standard premiums of new policies, calculated by dividing the total standard premiums of new policies by the number of tied agents, using the data of Q3 2025 as the reference. The standard new business premiums are defined as the sum of the annualised premiums and 10% of single premiums of new business.
5. The growth rate of MDRT qualifiers in the 2025 full year is calculated using BOC Life’s internal data, comparing the number of agents who met the MDRT qualification requirements in the 2024 full year (based on the eligibility of 2025 MDRT membership) with those who met the MDRT qualification requirements in the 2025 full year (based on the eligibility of 2026 MDRT membership).
6. The standard new business premiums for direct individual new business sold through the “Brokers” Channel, as stated in the IA’s Q3 2025 Provisional Statistics, are calculated. The standard new business premiums are defined as the sum of the annualised premiums and 10 % of single premiums of new business.
7. The standard new business premiums for direct individual new business sold through the “Bancassurance” Channel, as stated in the IA’s Q3 2025 Provisional Statistics, are calculated. The standard new business premiums are defined as the sum of the annualised premiums and 10 % of single premiums of new business.
8. If the customer is successfully registered as a member of BOC Life “RetireCation” Experience Programme, and the Notional Amount of the basic plan is HK$1,500,000 / RMB1,300,000 / USD200,000 or above, he/ she may participate once in the “RetireCation Immersive Retirecation Experience” (“the Retirecation Experience”). The Retirecation Experience includes a retirecation package for two persons and prestigious retirecation concierge service. Please refer to relevant flyer for details, or contact BOC Life Customer Service Hotline at (852) 2860 0688 for enquiry.